All articles tagged with #us unemployment
US unemployment rose to 4.6% in November, the highest since 2021, amid a cooling labour market with job losses in government and manufacturing sectors, but gains in healthcare and construction, reflecting ongoing economic uncertainty and policy impacts.
Gold prices rose slightly as U.S. unemployment increased in November, boosting expectations of rate cuts by the Federal Reserve, especially with a weaker dollar and lower Treasury yields, while other precious metals like platinum and palladium also gained.
US jobless claims rose to the highest level since 2021, with initial claims increasing by 11,000 to 235,000 and continuing claims reaching 1.97 million, indicating a potential slowdown in the labor market and increased difficulty for out-of-work Americans to find new jobs.
Recent US college graduates face the highest unemployment rate since 2013 at 5.8%, with job prospects weakening due to economic uncertainty, sector slowdowns, and technological changes, leaving many young people struggling with debt and job insecurity.
Stocks were little changed on Friday as investors analyzed the US monthly jobs report, which showed a surprise drop in the unemployment rate to 3.7% in November. The report indicated that the labor market may not be cooling as quickly as expected, potentially influencing the Federal Reserve's decision on interest rates. Meanwhile, the UK antitrust regulator is considering a probe into the partnership between Microsoft and OpenAI. In other news, Paramount shares surged after reports of a potential acquisition, Warner Bros. Discovery signed a deal with A24, Broadcom reported strong Q4 results, and Lululemon initially lost steam but gained momentum following an earnings report.
Stocks were little changed on Friday as investors analyzed the US monthly jobs report, which showed a surprise drop in the unemployment rate to 3.7% in November. The report indicated that the labor market may not be cooling as quickly as expected, potentially influencing the Federal Reserve's decision on interest rates. Meanwhile, the UK antitrust regulator is considering a probe into the partnership between Microsoft and OpenAI. In commodities, oil prices bounced back but are still on track for the longest run of losses in five years.
Vanguard's top economist, Joe Davis, predicts that US unemployment will spike above 4% over the next year, contradicting the Federal Reserve's belief that there will be no recession. Davis argues that even though job losses will suppress wage growth and help inflation fall to the Fed's target level of 2%, it will also prevent the central bank from achieving a "soft landing" scenario. Historically, a rise in the unemployment rate above 4% has been associated with a recession, albeit not necessarily a deep one.